Zafgen Inc. (ZFGN) Stock Price Down 2%
Zafgen Inc. (NASDAQ:ZFGN)’s share price was down 2% during mid-day trading on Friday . The stock traded as low as $2.95 and last traded at $2.98, with a volume of 233,806 shares changing hands. The stock had previously closed at $3.04.
Several equities analysts have recently issued reports on ZFGN shares. Zacks Investment Research upgraded shares of Zafgen from a “hold” rating to a “buy” rating and set a $7.25 price objective on the stock in a report on Thursday, May 12th. FBR & Co restated a “buy” rating on shares of Zafgen in a report on Monday, June 13th. Cowen and Company downgraded shares of Zafgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 20th. Leerink Swann restated a “market perform” rating and set a $6.00 price objective on shares of Zafgen in a report on Wednesday, July 20th. Finally, Canaccord Genuity set a $4.00 price objective on shares of Zafgen and gave the company a “hold” rating in a report on Thursday, July 21st. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $14.22.
The company’s market cap is $80.62 million. The company has a 50 day moving average of $3.41 and a 200-day moving average of $5.74.
In related news, Director Frances K. Heller acquired 10,000 shares of the firm’s stock in a transaction dated Friday, July 22nd. The stock was acquired at an average price of $2.99 per share, for a total transaction of $29,900.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $29,900. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Patricia L. Allen acquired 16,000 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The stock was bought at an average price of $3.12 per share, with a total value of $49,920.00. The disclosure for this purchase can be found here.
Zafgen, Inc is a biopharmaceutical company. The Company is focused on improving the health and well-being of patients affected by obesity and complex metabolic disorders. The Company’s lead product candidate, Beloranib, is a twice-weekly subcutaneous injection being developed for the treatment of multiple indications, including severe obesity in rare diseases, such as Prader-Willi syndrome (PWS) and hypothalamic injury-associated obesity (HIAO), including craniopharyngioma-associated obesity.
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